Retirement Shocker

Plan for Agriculture's Exit Tax

Rather than pay a geyser of income taxes, one retiring farmer designated the Yellowstone Foundation as a beneficiary of a trust, funded with his farm equipment inventory. (Photo by YellowstoneNPS, CC BY 2.0)
Retirement costs many farmers more in income tax than they will pay on their estates, tax professionals warn. That's prompting extended careers and charitable giving among would-be retirees.

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